CFR > Title 13 - Business Credit and Assistance > CHAPTER III—ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE > PART 314—PROPERTY > SUBPART A—General (§314.1 to §314.6) > 314.5—Federal Share.

314.5—Federal Share.

(a) For purposes of this part, “Federal Share ” means that portion of the current fair market value of any Property attributable to EDA's participation in the Project. The Federal Share shall be the current fair market value of the Property after deducting:
(1) Reasonable repair expenses, if any, incurred to put the Property into marketable condition; and
(2) Sales, commission and marketing costs.
(b) The Federal Share excludes that portion of the current fair market value of the Property attributable to acquisition or improvements before or after EDA's participation in the Project, which are not included in the total Project costs. For example, if the total Project costs are $100, consisting of $50 of Investment Assistance and $50 of Matching Share, the Federal Share is fifty (50) percent. If the Property is disposed of when its current fair market is $250, the Federal Share is $125 (i.e., fifty (50) percent of $250). If $10 is spent to put the Property into salable condition, the Federal Share is $120 (i.e., fifty (50) percent of ($250−$10)).

Code of Federal Regulations

[73 FR 62870, Oct. 22, 2008]